December 31, 2021
Shares
Ticker | ASA |
Net assets | $486 million |
NAV | $25.19 |
Share price | $21.09 |
Discount | 16.28% |
Management since April, 2019 | |
Adviser | Merk Investments |
Portfolio Manager | Peter Maletis |
CIO | Axel Merk |
Contact
ASA Gold & Precious Metals Limited c/o Apex Fund Services
3 Canal Plaza, Suite 600
Portland, Maine 04101
Websitewww.asaltd.com
Toll-free(800)432-3378
Dividends
Distributions Semi-annual
11/24/21$.01
05/21/21$.01
11/25/20$.01
05/22/20$.01
Statistics
Beta10.99
R-squared20.86
- Source: Bloomberg. Beta measures the Company's market-related risk over a three-year period relative to its benchmark, the NYSE Arca Gold Miners Total Return Index. A beta lower than 1 indicates historically lower volatility than the index; greater than 1 indicates higher volatility.
- Source: Bloomberg. R-squared is a measure of the percentage of a company's share price movement that can be attributed to its benchmark index. It can range from 0 and 1; 1 indicates a perfect correlation.
Established in 1958, ASA Gold and Precious Metals Limited is a closed-end precious metals and mining fund (NYSE: ASA) registered with the United States Securities and Exchange Commission and domiciled in Bermuda. The Company is one of the oldest investment management firms focused on the precious metals and mining industry. ASA employs bottom-up fundamental analysis and relies on detailed primary research including meetings with company executives, site visits to key operating assets, and proprietary financial analysis in making its investment decisions.
PERFORMANCE AS OF DECEMBER 31, 2021
Average Annual Total Returns | |||||||
1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Inception | ||
NAV | -5.6% | 31.0% | 14.9% | -0.7% | 1.4% | 8.6% | |
Share Price | -3.5% | 30.8% | 14.1% | -1.6% | 1.1% | 8.4% |
Includes the reinvestment of dividends. Inception is from December 11, 1958, the date on which the Company's shares were listed for trading on the NYSE.
Performance shown since Peter Maletis became portfolio manager of ASA
HISTORICAL DISCOUNT
0%
-5%
-10%
-15%
-20%
-25%
-30%
Mar-08Mar-09Mar-10Mar-11Mar-12Mar-13Mar-14Mar-15Mar-16Mar-17Mar-18Mar-19Mar-20Mar-21
Discount | For the period 3/31/08 - 12/31/21 |
12-week Moving Average |
All performance information reflects past performance and is presented on a total return basis. Past performance is no guarantee of future results. Current performance may differ from that shown. The Company concentrates in the gold and precious minerals sector. This sector may be more volatile than other industries and may be affected by movements in commodity prices triggered by international monetary and political developments. The Company is a non-diversified fund and, as such, may invest in fewer investments. ASA Gold and Precious Metals Limited may invest in smaller-sized companies that may be more volatile and less liquid than larger, more-established companies. Investments in foreign securities, especially those in the emerging markets, may involve increased risk as well as exposure to currency fluctuations. Shares of closed- end funds frequently trade at a discount. This document may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements involve risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those contemplated by the forward-looking statements. This document does not constitute an offer to sell or solicitation of an offer to buy any securities.
Certain Tax Information: ASA is a "passive foreign investment company" for United States federal income tax purposes. As a result, United States shareholders holding shares in taxable accounts are encouraged to consult their tax advisors regarding the tax consequences of their investment in the Company's common shares.
Not FDIC Insured | No Bank Guarantee | May Lose Value
December 31, 2021
Websitewww.asaltd.com
Toll-free(800)432-3378
On April 12, 2019, shareholders approved Merk Investments LLC ("Merk") as advisor to ASA. As a firm, Merk brings a long history of portfolio management of registered investment companies, and research that includes primary research on central banks and their impact on the price of gold. Portfolio Manager Peter Maletis joined Merk after 8 years at Franklin Templeton, where he was precious metals analyst. He spent much of his time at Franklin meeting with the management of gold companies from around the world as well as on due diligence site visits, where he developed an intimate understanding of the many companies in the precious metals sector. It is with that background that Peter is influencing changes to the ASA portfolio, also leveraging on the resources made available by Merk.
Primary Commodity | % of NAV |
Gold | 74.7% |
Diversified Miners | 18.8% |
Silver | 5.7% |
Platinum & Palladium | 0.7% |
Net Liquid Assets | 0.1% |
Type | % of NAV |
Exploration Companies | 43.2% |
Mining Companies | 39.3% |
Development Companies | 17.1% |
Royalty Companies | 0.2% |
Net Liquid Assets | 0.1% |
Stage of Development | % of NAV |
Exploration Companies | 42.7% |
Development Companies | 17.1% |
Production < 500k ounces | 16.2% |
Production >1mm ounces | 14.1% |
Production 500k - 1mm ounces | 9.6% |
Royalty Companies | 0.2% |
Net Liquid Assets | 0.1% |
Country of Incorporation | % of NAV |
Canada | 73.1% |
Australia | 15.4% |
South Africa | 7.5% |
Cayman Islands | 3.9% |
Net Liquid Assets | 0.1% |
United States | 0.0% |
Type of Security | % of NAV |
Equity Securities | 94.7% |
Warrants | 5.1% |
Net Liquid Assets | 0.1% |
Convertible | 0.0% |
Capitalization | % of NAV |
Market Cap < $2bn | 76.2% |
Market Cap $2bn - $10bn | 18.8% |
Market Cap >$10bn | 4.9% |
Net Liquid Assets | 0.1% |
Holdings | Ticker | % of NAV | |
Orla Mining Ltd | OLA CN | 6.4% | |
Prime Mining | PRYM CN | 4.1% | |
Endeavour Mining | EDV CT | 3.9% | |
SSR Mining Inc | SSRM | 3.8% | |
Aya Gold & Silver Inc | AYA CN | 3.7% | |
Anglogold Ashant - Adr | ANG SJ | 3.4% | |
Gold Fields Ltd-Adr | GFI | 3.4% | |
Emerald Resources | EMR AU | 2.8% | |
Barrick Gold Corp | GOLD | 2.7% | |
Perseus Mining Ltd | PRU AU | 2.7% | |
Marathon Gold Corp | MOZ CN | 2.7% | |
Predictive Discovery | PDI AU | 2.6% | |
Calibre Mining Corp | CXBSR CN | 2.4% | |
G Mining Ventures Inc | GMIN CN | 2.4% | |
Arizona Metals Corp | AMC CN | 2.4% | |
Probe Metals Inc | PRB CN | 2.2% | |
Agnico Eagle Mines Ltd | AEM | 2.2% | |
Benchmark Metals Inc | BNCH CN | 2.2% | |
Discovery Silver Corp | DSV CN | 2.0% | |
Alamos Gold Inc | AGI | 1.9% | |
Liberty Gold Corp-Plc | LGD CN | 1.7% | |
K92 Mining Inc | KNT CN | 1.6% | |
B2Gold Corp | BTO CT | 1.6% | |
Skeena Resources Ltd | SKE CN | 1.5% | |
Integra Resources Corp | ITR CN | 1.4% | |
Gogold Resources Inc | GGD CN | 1.4% | |
Millennial Precious Metals | MPM CN | 1.4% | |
Thesis Gold Inc | TAU CN | 1.4% | |
Emerita Resources | EMOT CN | 1.3% | |
Aya Gold & Silver Inc Wrnt | AYA CN | 1.2% | |
Silver Tiger Metals | SLVR CN | 1.2% | |
Bellevue Gold Ltd | BGL AU | 1.1% | |
Red Dirt Metals Cvt | RDT AU | 1.1% | |
Adriatic Metals Plc | ADT AU | 0.9% | |
Sable Resources Ltd | SAE CN | 0.8% | |
Bunker Hill Mining Corp | BNKR CN | 0.8% | |
Pan Global Resources | PGZ CN | 0.8% | |
Adventus Mining Corp | ADZN CN | 0.8% | |
Pantoro Ltd | PNR AU | 0.8% | |
Auteco Minerals Ltd | AUT AU | 0.8% | |
Americas Gold & Silver Corp | USA | 0.8% | |
O3 Mining Inc | OIII CN | 0.7% | |
Osino Resources | OSI CN | 0.7% | |
Sibanye Stillwater- Adr | SSW SJ | 0.7% | |
Tdg Gold Corp | TDG CN | 0.7% | |
American Pacific Mining | USGD CN | 0.6% | |
Monarch Mining Corp | GBAR CN | 0.6% | |
Holdings | Ticker | % of NAV | ||
Highgold Mining Inc | HIGH CN | 0.6% | ||
Arizona Metals Corp Wrnt | AMC CN | 0.6% | ||
Roscan Gold Corp | ROS CN | 0.6% | ||
Nighthawk Gold Corp | NHK CN | 0.6% | ||
Andean Precious Metals | APM CN | 0.6% | ||
Geopacific Resources Ltd | GPR AU | 0.6% | ||
Los Cerros Ltd | LCL CN | 0.5% | ||
Newcore Gold Ltd | NCAU CN | 0.5% | ||
Prime Mining Wrnt | PRYM CN | 0.5% | ||
Euro Sun Mining Inc | ESM CN | 0.5% | ||
Alicanto Minerals Ltd | AQI AU | 0.4% | ||
Westhaven Gold Corp | WHN CN | 0.4% | ||
Dacian Gold Ltd | DCN AU | 0.4% | ||
Castile Resources | CST AU | 0.4% | ||
Thesis Gold Inc Wrnt | TAU CN | 0.4% | ||
Discovery Silver Corp Wrnt | DSV CN | 0.4% | ||
Emerita Resources Wrnt | EMOT CN | 0.4% | ||
Desert Gold Ventures Inc | DAU CN | 0.3% | ||
Talisker Resources Ltd | TSK CN | 0.3% | ||
Mawson Resources Ltd | MAW CN | 0.3% | ||
Barton Gold Holdings | BGD AU | 0.3% | ||
Huntington Exploration | HEI CN | 0.3% | ||
Maverix Metals | MMX CN | 0.2% | ||
Prodigy Gold Nl | PRX AU | 0.2% | ||
Cygnus Gold Ltd | CY5 AU | 0.2% | ||
Red Dirt Metals Wrnt | RDT AU | 0.2% | ||
G Mining Ventures Wrnt | GMIN CN | 0.2% | ||
Net Cash Or Equivalent | Cash | 0.1% | ||
American Pacific Mining Wrnt | USGD CN | 0.1% | ||
Silver Tiger Metals Wrnt | SLVR CN | 0.1% | ||
Huntsman Exploration | HMAN CN | 0.1% | ||
Sable Resources Ltd Wrnt | SAE CN | 0.1% | ||
Bunker Hill Mining Corp Wrnt | BNKR | 0.0% | ||
Pan American Silver Cvt | PAAS | 0.0% | ||
Monarch Mining Corp Wrnt | GBAR CN | 0.0% | ||
Pure Gold Mining Inc Wrnt | PGM CN | 0.0% | ||
Osino Resources Corp Wrnt | OSI CN | 0.0% | ||
Benchmark Metals Inc Wrnt | BNCH CN | 0.0% | ||
Nighthawk Gold Corp Wrnt | NHK CN | 0.0% | ||
Tdg Gold Corp Wrnt | TDG CN | 0.0% | ||
Desert Gold Ventures Inc Wrnt | DAU CN | 0.0% | ||
Euro Sun Mining Inc Wrnt | ESM CN | 0.0% | ||
Huntsman Exploration Wrnt | HMAN CN | 0.0% | ||
Huntington Exploration Wrnt | HEI CN | 0.0% | ||
Mawson Resources Wrnt | MAW CN | 0.0% | ||
Westhaven Gold Corp Wrnt | WHN CN | 0.0% | ||
O3 Mining Inc Wrnt | OIII CN | 0.0% | ||
Warrants and Convertible Securities (annotated as Wrnt and Cvt, respectively) may not be publicly traded; ticker symbols referenced may refer to to issuer of the respective Warrant or Convertible Security. References to 0.0% of NAV are non-zero amounts rounded to 0.0%. Please see other side for additional important disclosure.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
ASA Gold and Precious Metals Limited published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 15:30:02 UTC.